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LRA RESOLUTION NO. 99.61
A RESOLUTION OF THE L1'NWOOD REDEVELOI'1`9ENT A(.ENCY AI'1'ROVINC A
DISPOSITION AND DEVELOPl11ENT AGREEI\IENT BY AND BETWEEN Tl1E
LYNWOOD REDEVELOPt1iENT AGENCI' AND IIUB CITY CONSTRUCTION ANU
DEVELUPitIENT COI<iPANY
WHEREAS, the Lynwood Redevelopment Agency has 20% Low and Moderate Income
Set-Aside funds for Fiscal Year 1999 to carry out certain eligible activities in accordance with
the established goals and objectives of the Redevelopment Plan; and
~~JIIE:RIAS, the l.ymvood Redevelopment Agency engages in afti~rdable housing
opportunities and projects fur low and moderate income persons as part of the Itedcvclopmcnt
Plan and in order to implement a redevelopment project the Agency proposes to canter into a
Disposition and Development Agreement with Hub City Construction and Development
Compan}~, ~+hich provides for the development of single family homes, and
WHEREAS, the Agency desires to consider the disposition of the Agency property in
connection with the development of the Site by the Developer, and
WHEREAS, the proposed DDA contains all the provisions, teens, conditions, and
obligations required by state and local law, and
V~'I-tEREAS, the Developer possesses the qualifications necessary to ensure development
of the Site: proposed in accordance: with the purposes and objectives of the Redevelopment Plan,
V`'I-iEREAS, the Agency has conducted a public hearing and considered the proposed
DDA based un the beat interest of the City of Lynwood and in accordance; with the goals and
objectives of the Lymvood Redevelopment Agency;
NOVA', THEREFORE, IT IS RESOLVED by the Lynwood Redevelopment Agency as follows:
Section 1. That the Agency approves the Disposition and Development Agreement with I-lub City
Construction and Development Company and commits $607,00 of Redevelopment Agency Low
and ~-ioderate Income ?U% Set-Aside allocation to be used for the development single family
housing units at the h-iuriel Estates ]-lousing Project.
Section 2. That the Executive Director or his designee is authorized to make the necessary budget
amendment for the allocation of the $607,4UU from an unappropriated agency account to the
necessary appropriated agency account
Section 3. This Resolution shall go into effect immediately upon its adoption.
PASSED, APPROVED and AD D this 2n day/of November 1999.
~» ~h
Ric do Sanchez, CI-iAIR-
rES~r
~~
Andrea L. Hooper, City Clerk
APl'RO
AS "r~FORM
Ral Davis, xecutive Director
AS NTENT
~' .~~~e~g-~
Cit Attorney Gary Cht~'6ts, Cor~lunity Development Director
r a
STATE OF CALIFORNIA )
ss.
COUNTY OF LOS ANGELES )
I, the undersigned Secretary of the Lynwood Redevelopment Agency (LRA) do
hereby certify that the above and foregoing resolution was duly adopted by the said
Agency at a regular meeting thereof held in the .City Hall of the City of Lynwood on the
2nd .day of November 19, 99 ,and passed by the following vote:
AYES: MEMBERS BYRD, REA, REYES, RICHARDS
NOES: NONE
ABSENT: CHAIRMAN SANCHEZ
~! 5~~~
SECRETARY
LYNWOOD REDEVELOPMENT AGENCY
STATE OF CALIFORNIA )
ss.
COUNTY OF LOS ANGELES )
I, the undersigned, Secretary of the Lynwood Redevelopment Agency, do hereby
certify that the above and foregoing is a full, true and correct copy of Resolution No. LRA
99.61 on file in my office and that said resolution was adopted on the date and b~
the vote therein stated.
DATED this 2nd day of November , 1999
SECRETARY
LYNWOOD REDEVELOPMENT AGENCY